Tag: domiciliary accounts
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Just In: CBN gives update on plans to convert domiciliary accounts into Naira
The Central Bank of Nigeria (CBN) says it has no plans to convert domiciliary account holdings valued at 30 billion dollars into Naira. Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, made the clarification in
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CBN releases additional FX reforms, relaxes restriction on domiciliary accounts
Following the Central Bank of Nigeria (CBN) new guidelines in the Foreign Exchange (FX) market recently released, the apex bank has announced further policy changes.
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We’ve no plan to convert domiciliary accounts into naira – CBN
The Central Bank of Nigeria has assured members of the public that it didn’t issue a directive to convert the foreign exchange in the domiciliary accounts of customers into naira, as falsely purported on social media. In a circular issued on Saturday, the apex bank said that it would never contemplate such line of action,…
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CBN strengthens dollar supply with new rules on domiciliary accounts, remittance
Worried by the poor dollar supply in the Nigerian economyy, the Central Bank of Nigeria (CBN) has introduced new rules that allow beneficiaries of diaspora remittance and transfers into domiciliary accounts to receive their money in foreign currency. Previously, beneficiaries of diaspora remittance can only receive in cash the naira equivalent of the amount transferred.…
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TNG analysis: Nigerians groan as several banks shun FG, shutdown banking hall operations
Despite the federal government’s appeal to banks to continue operations amid the Covid-19 pandemic, the failures of several financial institutions to put up an efficient skeletal operation continues to take a heavy toll on daily activities of Nigerians, particularly on bank customers. Recall that the Central Bank of Nigeria (CBN) had earlier assured the public…